Binance founder sentenced to four months in prison
Nigerian court adjourns separate money laundering case against the crypto exchange
Changpeng Zhao, the founder and former chief executive of Binance, the world’s largest crypto exchange, was sentenced to four months in prison on May 1.
Prosecutors said Binance had failed to report more than 100,000 suspicious transactions involving designated terrorist groups including Hamas, al-Qaeda and Isis. They also claimed Binance facilitated the sale of child pornography and received ransomware proceeds.
The verdict marks the second time this year a head of a major global crypto exchange
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